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20130128
20130128
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Search Results 0 to 18 of about 19 (some duplicates have been removed)
>> right now, the european union is in distress. what would a failed euro mean for the e.u. or for its largest trading partner, the u.s.? >> the '08/'09 financial panic/crash/great recession put tremendous economic financial pressure on the entire global economy, including europe. >> in the same way in which the collapse of lehman implied global shocks, a dissolve in the situation of the eurozone is going to impact the united states. >> while everyone is telling the germans, "bail these guys out now," the germans are saying, "if we're gonna bail them out, we wanna fix the political crisis." >> at the end of the day, europe and the eurozone face an existential question: can we become the united states of europe? >> in a democracy, agreement is not essential, but participation is. >> never before in our history have we been so interconnected with the rest of the world. >> foreign policy is actually not foreign. >> america has faced great hardship before and each time we have risen to the challenge. >> the ultimate test is to move our society from where it is to where it has
with the ecb to make sure that the euro got through this problem. i was designated to ask you about the banking union. and at that point he was there optimistic. he thought the banking union could be worked on, in place in the first quarter of this year. well, now they've moved it to the first quarter hopefully in 2014 and you still have argument somehow it is going to be done. so you need to put a timeline on this and then you've got to adhere to it. but to get the banking system back with similar regulations throughout the eurozone is absolutelabsolutel absolutely necessary. it is key to the recovery of your. second of all is a plan that he talked about on july 26 in london last year. which is the outright monetary transaction, whereas the ecb would buy bonds from the country's in trouble, along with the european stability mechanism under certain conditions. in other words, certain conditionality. now, the ecb is going to put up that conditionality. they have enough on there. and so it will probably be international monetary fund, but they haven't really agreed what kind of conditionality the
't see any reason why the stock couldn't keep rallying, especially if the s&ps keep rallying. > the euro hit an 11-month high on friday. what is the trade there? > > it's interesting, we've seen a total correlation break between gold and the euro. it used to be, the euro rallies, gold rallies; the euro falls, gold falls. now, as we come in this morning, the euro has been up, up, up. gold is getting hammered. i think it shows how much weakness is in gold, and how the euro bank situation is really strengthening. > thank you mark. > > thank you. the tumultuous tenure of treasury secretary timothy geithner began in the bleakest economic times since the great depression. in our cover story, a look at whether the policies under his watch improved things or left taxpayers more vulnerable than ever. the economy is not in free-fall, nor are the markets frozen, as many describe the financial crisis timothy geithner faced when he became treasury secretary as president obama was sworn into office the first time. finance professor dale rosenthal says government- directed taxpayer bailouts helped stab
. investigators are saying that the bank manipulated the euro bor. it influences interest rates from everything on home mortgages to car loans. deutsche bank is under investigation for manipulating the libor, the more widely used london interbank interest rate. the dax finished within striking distance of two-year highs. our correspondent sent us this summary of the first trading day of the week. it is yet another unfavorable --, it is yet another unfavorable -- >> it is yet another unfavorable report about an investigation into deutsche bank. penalties could be hefty. still, people are quite relaxed. deutsche bank going up for the day. the trading day was relatively quiet and relaxed, but the level remains high. that high level is part of the reason why boom this bank -- the bundesbank says that germans are richer than ever before. half of the wealth -- the growth in wealth was attributable to the enormous rise in share prices. >> the dax finished down by 1/3 of 1%. the euro stoxx 50 pretty much flat. the dow trading down just slightly. the euro trading at a value of 1.3452. well, who is going
place because of the euro zone and that is why i think it's right to resell our relationship with europe and then to trust the people. >> thank you, mr. speaker. [inaudible] recent revolutions show about the secretive series abuse of powers continues with involvement of the police and the security services. will be prime minister have an investigation into the scandal that has ruined, continues to run the lives of many hard-working men, women, and their families? >> the honorable member quite rightly raised the issue that i know the opposition will be racing today in the debate and let me say the blacklisting that occurred was a completely unacceptable project that i think the previous government was right to bring in legislation to make it unlawful. we've seen no evidence that the blacklisting regulations introduced are not doing their job and the company responsible was shut down in 2000. at me say this but i do welcome the openness and frankness that labour are using to look at something that went wrong while they were in office. >> thank you, mr. speaker. my right honorable friend in
at your local suby today! subway. eat fresh. chance to take part in and not euro parade is a once-in-a-lifetime opportunity. the high school band was preparing for the time in the spotlight. the entry in the inaugural parade was ballou high school in southeast. practiced was paid for by an excited alumni. >> i am very excited. >> this is a good feeling. my first same being in an inauguration parade. this one was special. a great day, right? be excited, to right? >> after breakfast, time to suit up and rehearse. back at ballou high school, they went over the songs and got .heir uniforms lots of anticipation. they finished and headed to the buses. hours later, they made it to destination, pennsylvania avenue. ♪ to any school, it is special not euro parade. for ballou, it has happened twice. -- in an inaugural parade. , it has happened twice. >> they did a great job.
at the dollar/yen. firmly at 90.96 to 98. we did see it touching 90 at one point. euro/yen, 122.44 to 49 as well there. the euro gaining against the yen as well. so that's going to be an interesting factor to see how that plays into today's markets as well. ai? >> what key data can we expect this week other than earnings reports? >> we're going to go through quite a few, but of course the perils due out on friday. also some manufacturing and housing data to two other key areas, which analysts will be looking at closely, the big drops numbers on friday. we'll see if we can retest that 11,000 level. ai, back to you. >> thanks a lot for that update, ramin. ramin mellegard from the tokyo stock exchange. ramin just mentioned jobs data, so let's see what's happening on the global scene this week. first on wednesday, the preliminary estimate for economic growth for september of 2012 will be released. they had released a q4 gdp from the first quarter. also the fomc will be opening up its meeting. as people around the world take measures to shore up their committees, they're looking to see what the fed w
% of those surveyed would prefer the uk to leave the euro. >> i should have said leave the european union. britain can't leave that monetary issue. we'll have plenty more on the relationship between britain and europe. for now, we can look at the relationship with markets. the euro stoxx 6700 is down about 0.4% today. not a done of differentiation. the biggest gainer, interestingly, is monti paschi. some of the airlines are struggling, too, on the back of ryan air's results. now take a look at what's happening across the bourses. we're seeing somewhat again of a trading pattern here after the last several trading sessions where it's not consistent. we'll get those up for you just as soon as we can. today, it's down pretty much across the board. the ibex shedding 0.12%. the cac 400.15% the. the xetra dax is also down 0.1%. the ftse 1100, same thing. pretty consistent story across these indexes here. it's a big week for earnings, too. in the meantime, let's take a look at the bond wall. it's been interesting, actually, to see the lack of action, lack of attention markets have been paying he
europe, having exposure to the currency, i have exposure to the euro, for a reason, is that i want -- i don't like the fact that we have twice the deficit that europe has. >> right. >> you hear a lot of bad press about europe but europe has a deficit and i want to be exposed to the euro. mostly because i think that the policies of the federal reserve is identical to those of european central bank and euro has been doing very well. and i think, i smell, everybody is bearish on something. but the story doesn't match the numbers. >> bob pisani, good to see you again. in the 2008 crash, is risk in your opinion still underpriced. and if it is, how do you explain to people to protect themselves? >> unless people have been burned, you can't convince them to get protected. and tail risks have traditionally been cheap depending on which tail. and what people fail to understand is that owning tail protection allows me to take risk elsewhere. it is not like what i spend on the tail is the overall package. it is very favorable when you have equities more attractive than bonds and other things. you
of the euro and to some degree make monetary policy tighter over here. we can quickly look at the bond space. italy did go to auction as we continue to see reasonable demand for peripheral debt. the paper is selling off a little bit, but still 4.17%. investors showed up to bid on the two-year zero coupon and the five-year inflankz flagz linked bond. italy and spain continue to front load. forex, though, telling you more of this story, which is that interestingly fluff, we're seeing kind of a risk off attitu attitude. the same has been the case for loony, which now people are starting to talk about in parity with the u.s. dollar. the dollar/yen, down about 0.3% to 90.62. the euro/dollar, 1.3446. so even though it's difficult, the u.s. dollar, guys, has been performing a little better over the last couple of weeks helped by renewed growth prospects. it's one reason why a lot of people are focused on the see kweter, that chatter over the weekend about it happening could put more pressure on the greenback. back to you guys. >> kelly, thanks so much. next time, you should fly over. >> what happen
at the pound side. let's look at the euro versus the pound. as you see on this chart, pound's getting hit pretty hard. this is a 13-month low on the pound. let's switch around some of these controls trades. look how fascinating this is. let's not pare that losing pound to the pound/yen. pound/yen is at 31-month highs. if we look at the euro/yen, it's at 21-month highs. if we look at the dollar/yen, it's a 31-month high. even though the pound is having a tough time against the eurozone, everybody's having a party against the yen. these cross trades have been one of the biggest surprises to many for 2013 thus far. and it hasn't taken long. the other thing, of course, durables today is one of the reasons we're up several basis points, again, along with stocks. but if you look at the proxy for capital spending, up only .2% for the month of december. that was a little disappointing and maybe one of the more important components of today's durable series. jim, back to you. >> thank you, rick. let's check out the latest news in energy. sharon? >> the fact that hess is exiting the refining busine
mechanism in order to protect the euro. now we have it. now it is in place. and that's an excellent advantage. on the other hand, for financial and fiscal solidity we have the so-called fiscal compact. this, too, is in force ever since the beginning of this year, and there's now a particular point where we have to continue working, so we have improved fiscal consolidation, we have better, binding commitments, better tools, we have better mechanisms. we also have as regards banking supervision made considerable progress as of 2014, we will have a banking supervision in place in the eurozone in which, obviously, also other european countries can participate. but we're still lacking, and that's something that we need to do this year, 2013, is to see to it that over the next few years to come we also have a convergence in competitiveness within the common euro area. so not somewhere where we are sort of, um, expecting the lowest common denominator, but competitiveness that measures wealth against the best of us and against the best on the global markets. and showing us access to global
euro skeptics warn seven are in recession. it's possible that germany falls into a recession as well. so they aren't out of the woods yet. don't get complacent about europe. did japan just start a currency war? announcing a full on assault on inflation. that's likely to weaken their currency and a lot. making it more difficult for the u.s. and europe to increase their exports. where does it end? what kind of unintended consequences could it bring? the third possible derailment, china. not the pace of their growth which has recovered. china worries more about political risk because the country has new leadership for the first time in ten years. and if the country is going to keep growing, they must do some very controversial reforms. that's going to lead to some kind of internal distress as investors try to hold on to power. and the final wild card, iran and its nuclear ambitions. there it's hard for the markets to measure what could happen. >> okay, michelle. thank you. a group of bipartisan senators meanwhile have agreed on a proposal to overhaul immigration laws. let's get to eamon
rekonkry. >> we're in a better place than the rest of the world. the euro crisis is not over although it seemed to have been abated. that's going to keep happening. the chinese economy is in bigger trouble than it's been in a long time. so that's worrisome. and so in the u.s., the real problem ultimately is a political problem because our economy is slowly recovering. things are starting to turn around and what could spiral us backward really is if one of these upcoming fights on sequestration or the next debt cellin ceiling, you know, finally causes it to -- >> that is sort of baked in the cake. everybody expects they're going keep kicking it down the road. why, then, do we have a surge in stock market? >> one is that corporate profits are very good. but don't forget, corporate companies are holding that money aside. they don't want to reinvest. they're worried about the economy and it's not that helpful. the season reason is because the federal reserve has kept interest rates so, so low that there's almost no other place for people to put their money. so it's less a function of the
to see how the good ol' u.s. dollar is moving against some of these foreign exchanges. with the euro down, the pound down, they're all down against the dollar except the japanese yen which is showing a little backbone but not much. we'll be right back. officemax knows... ...tax time can be...well...taxing. so right now we'll give you... ...$10 off any turbo tax deluxe level software or higher! find thousands of big deals now... ...at officemax. >> at 20 minutes past the hour i'm lauren green with your fox news minute. a section of the mississippi river is closed to traffic as crews clean up a oil leak on sunday. it hit a railroad bridge near vicksburg, mississippi, spreading oily water across part of the waterway. >>> brazilian police arrested three people following the deaths of more than 20 in the nightclub fire in santa maria. the blaze reportedly started when a band member lit a flare on stage causing mass panic. the band's security chief and a member and owner of the kiss nightclub have been brought in for questioning. >>> french and mali troops sealed off timbuktu forcing islamist r
euros i was going to by the congress in 1994, and in 93 i went around to things like this and there was so much excitement out there. there was excitement out there because there wasn't just one talk radio guy that everybody listen to, or one news channel that everybody listen to, or one website that everybody went to. you would give a great welfare reform idea from john engler in michigan. he would get great crime control ideas from tommy thompson in wisconsin. and newt gingrich, along with trent lott, along with connie mack, along with jack kemp, they were churning ideas out every single day. so in 93 and 94, when i ran, i just plugged my campaign into all the things that gingrich, i think a pretty severe critic but i'll tie you what, it was him doing the very things that ross is complaining about that this republican party and our house doesn't do right now that gave us the majority. i remember in 93 going into the rnc and they had a sign that said think majority. they just laughed but i was like are you kidding me? we have no chance. we have been in the majority i
thing i'm not really afraid of us in this world are the rating agencies. >> only because the euro is so weak, the chinese are where they are. we can't depend on the rest of the world being feckless forever. >> people like me have been saying for five years, don't worry about these deficit things for the time being. they're not an issue. other people have saying imminent crisis, imminent crisis. how many times do they have to be wrong and do people like me have to be right before people start to believe in us? >> you're right until the day you're wrong, and that's a bad day. >> and he's on the sides of buses in spain. there we go. >> he's huge! >> paul krugman. >> thank you so much. >> this is fascinating. you've got to come back. it's great to have such diversity of thoughts. i'm serious. >> come back. >> spirited. >> the book is "end this depression now!" out in paperback. read it. we'll talk about it more. >> you're too early in the morning. >> you think so? >> yeah. >> why? >> the viewers may like it, but i don't. >> class doesn't start this early. >> oh, my goodness. >> we'll have y
Search Results 0 to 18 of about 19 (some duplicates have been removed)

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